Liquidation Overview: $471 Million Wiped Out in a Two-Way Squeeze
Data from Coinglass reveals that the cryptocurrency market experienced a severe deleveraging event over the past 24 hours, with total liquidations reaching $471 million. Long positions accounted for $265 million of that total, while short positions contributed $206 million. The near-equal split between longs and shorts indicates a classic "long-short squeeze" scenario, where volatile price swings forced leveraged positions on both sides to be liquidated.
Bitcoin and Ethereum Breakdown: Ethereum Bulls Lose Over $100 Million
Bitcoin saw $88.79 million in long liquidations and $74.66 million in short liquidations, totaling approximately $163 million. Ethereum recorded even higher long liquidation losses at $103 million, with short liquidations adding $62.43 million, bringing its total to $165 million. The fact that Ethereum longs alone exceeded $100 million suggests that traders had piled heavily into leveraged ETH long positions, making them particularly vulnerable to price swings.
Liquidations by the Numbers: 89,591 Traders Hit, $11.63M Single Order on HTX
A total of 89,591 traders were liquidated globally in the past 24 hours. The largest single liquidation order occurred on the HTX exchange, involving an ETH-USDT position worth $11.63 million. This massive forced closure likely amplified short-term price movements and may have triggered additional stop-losses or cascading liquidations.
Market Analysis and Risk Note
While the exact catalyst for this liquidation event is not provided, the scale—$471 million in 24 hours—indicates a sharp reversal in market sentiment or a major news-driven volatility event. The fact that longs and shorts were both heavily affected points to a choppy, two-sided market rather than a clear trend. For professional traders, this serves as a reminder to reduce leverage during periods of heightened uncertainty and to monitor open interest and funding rates closely. Data source: ChainCatcher, Coinglass.